Dating app giant Bumble has announced a major round of layoffs, cutting approximately 30 per cent of its workforce, or around 240 jobs, to streamline operations and reinvest in its core business.
The move, disclosed in a regulatory filing recently, follows earlier cost-cutting commitments of $15 million and comes as the broader dating app industry struggles with user fatigue and slowing growth.
Despite the job cuts, Bumble’s stock jumped over 20 per cent following the announcement. The savings from layoffs are expected to be redirected toward product innovation, technology upgrades, and other strategic priorities as Bumble attempts to reposition itself in a shifting market.
User engagement remains a critical concern. Bumble’s user base fell from a peak of 58 million in 2023 to 50 million in 2024. Revenue in the first quarter dropped by eight per cent, and average revenue per paying user was down 7.3 per cent. These declines indicate how the popularity of dating apps has begun to fall among Gen Z and Millennials, who are finding these platforms to be rather impersonal and a drain on emotions.
Bumble founder Whitney Wolfe Herd, who recently returned as CEO after a 14-month hiatus, has acknowledged the need for fundamental changes to both the app and the company culture. She aims to overhaul the platform’s user experience to better reflect evolving relationship dynamics.
Bumble is undergoing a restructuring under Wolfe Herd’s leadership, and is trying to become relevant at a time when conventional online dating is lessening in appeal.